On August 12 (Moscow time), TASS news agency reported that world gold prices had surpassed the $4,500/ounce mark.
According to trading data, the price of gold futures contracts for December 2026 on the US Comex exchange increased sharply in the trading session on August 12.
By 4 pm on August 12 Moscow time, equivalent to 1 pm GMT, gold prices increased by 1.39%, to 4,502.7 USD/ounce. This is the time when gold prices for the first time exceeded the 4,500 USD/ounce mark since June 5.
However, the upward momentum then somewhat narrowed. By 4:05 PM Moscow time, gold prices increased by 1.11%, trading at 4, 490.5 USD/ounce.
This price level shows that gold still maintained an upward trend in the session, although the price fell below the 4,500 USD mark just minutes after surpassing this threshold.
Notable developments not only appeared in the gold market. Silver prices also increased sharply in the same trading session.
TASS data quoted as showing that the September 2026 silver futures contract increased by 2.26%, to 66.4 USD/ounce.
Thus, both precious metals recorded significant increases in the session, in which gold attracted attention when it for the first time after more than two months surpassed the 4,500 USD/ounce mark again.
Gold prices are calculated according to the ounce of gold troy, a unit commonly used in the international precious metals market. An ounce of troy is equivalent to about 31.1 grams.
Data in the article reflects the futures contract price on the Comex exchange at the time mentioned, not the retail gold price in the Vietnamese market. Domestic gold prices may fluctuate differently depending on the exchange rate, supply and demand, and the difference between the domestic and world markets.
